DUBLIN, Nov 24, 2016 /PRNewswire/ -- Research and Markets has announced the addition of the "Corrosion Resistant Resin Market - Global Trends & Forecasts to 2026" report to their offering.
The global corrosion resistant resin (CRR) market is projected to reach USD 12.56 Billion by 2026. It is estimated to grow at a CAGR of 5.7% during the long-term forecast period, 2016-2026. The CRR market is driven by increasing monetary losses due to corrosion and growth of the end-use industries. Another prime factor that is expected to bring momentum to this market is modernization of infrastructure. The Asia-Pacific region accounted for the largest share of the global corrosion resistant resin market in 2015 and is expected to continue its dominance during the forecast period. The Middle East & Africa is projected to grow at the highest CAGR during the forecast period, owing to a large oil & gas industry in the region. Saturation in North America and Europe is posing a challenge for the CRR market to grow in these regions. Countries in these regions have a well-established infrastructure for public, commercial, and transport sectors, which is affecting the growth of the CRR market in these regions. Innovations are a must in the CRR market to serve applications better. Continuous portfolio optimization in the CRR market is important to stay competitive. In order to develop new and innovative products, technologies, and manufacturing processes, market players are collaborating with each other. These collaborations are expected to reduce competition in the CRR market during the forecast period.